Quote from: howardb on March 28, 2014, 06:24:44 AM

Quote from: thomas_s on March 28, 2014, 06:03:44 AM

Quote from: howardb on March 28, 2014, 05:48:07 AM

Quote from: bobsag3 on March 28, 2014, 05:08:41 AM

Quote from: howardb on March 28, 2014, 04:56:01 AM

Quote from: bobsag3 on March 26, 2014, 05:02:49 PM

Bitcoin Miners progress update 26 March 2014

1.We progressed to The Minions 3rd substrate which has been approved and sent to manufacturing
2.The package house has received the minion probe cart wafer.
3.Global Foundries has confirmed the wafer out date. The date is currently 5 days later than their prediction however they are seeking to catch up by optimising the rest of the process.
4.The final version of the X3 hashboard and X1 backplane has been sent to the PCB factory for prototyping
5.The final version of X1 hashboard will arrive this week on Friday.
6.The development team are still optimising the control board. The initial testing is positive: (booting sequence for Linux, network protocols and WiFi connections are ok). The team will focus now debugging the LCD. Testing for the touchscreen should start soon.
7.The modifications to the current setup is dictated by the testing and the quality controls reporting by our teams and suppliers. We concluded the last update to X3 backplane and the case design due to moving the X3 PSU on the left hand side for better heat dissipation.
8.We have received 2 types of PSUs for X3 from 2 vendors, we are testing them.
9.We have started mass production of the heatsinks and X1 power supplies
10.We have received the mounting screw with springs for the heatsinks. After a thorough review the spring technical specifications are not satisfactory. We continue to upgrade the design accordingly and we expect the samples to be ready in 10 days.
11.We approved the design for X3 case and we are in process of negotiating the time frame with our short-listed suppliers.
12.We should complete the final specifications for the fans by the end of this week.
13.We had a demanding schedule in visiting all our suppliers for quality checks and for tracking the agreed aggressive deadlines
14.We are in the final negotiations with our manufacturing partner for power chips. We are seeking a reliable supply of the power chips.
15.We finalised the search for the new facility which will help increasing the power for Rent-A-Minion service. Were planning to start setting it up as early as next week.

None of the above fills me with any confidence that they are going to deliver at end of April. I currently calculate that if by some miracle they did deliver by that date, and I doubt they will, and even including the 25% hashing BA so graciously offered in the facility they have not built yet! I would more than likely NEVER recover my $ investment, let alone make a profit.

So with regret bobsag, since you have ignored all my PM's on refunds, and people here are saying you are not even providing $ for $ refunds or being transparent in any way, I have to put you on negative trust rating.

I am refunding EXACTLY the amount of BTC paid in, or if paid in $ refunded in $, as is stated on the R17 refund thread.

It is also stated to get a refund you need to email support@minersource.net, as trying to handle refunds thru PM proved to be a mistake as I made several large errors (also documented earlier in this thread)

I fail to see how this is not transparent- you may have to dig thru a few pages of forum threads but its not like im hiding in the shadows. Over 1/3 of this GB has already been refunded- what makes you think any other requests would be handled otherwise?

To those with refunds still on hold for various issues, I should have them resolved by Saturday. I let some other stuff come up when these should have been taken care of post haste.

My problem is this.
I placed two orders for a total of 14 shares at $130 = $1820 paid for with BTC2.5 at the time for which I have a receipt in BTC and an invoice in $!
If you refund me in BTC today then that's worth only $1282.
So unless BA took payment from you in BTC and held those BTC to refund to you in BTC to refund us in BTC (which seems massivly unlikely) then someone is profiting $538 out of failing to deliver! Multiply that by the number of orders involved here and it starts to become a substantial sum!

So straight question, please give a straight answer, is it you or BA profiting from the BTC drop?

This is exactly what happened BA was paid in BTC, their refund terms are to be refunded the same method of payment.

Well first of all thats not really a complete answer because the method of payment does not necessarily mean the value. Neither does it tell us what BA have actually done with refunds.

BA priced in $ and adjusted the BTC required for those $ on a daily basis to allow for BTC volatility. So refunds should be on same basis, $ value at current BTC exchange rate. If thats not the case and they are offering back BTC at the exact amount of BTC received then that is an absolute outrage that should be challenged.

As usual, conveniently ignored post, still awaiting response bobsag3!